Global Luxury Furniture Market, By Material (Wood, Metal, Glass, Leather, Plastic), End-Use (Living Room, Bedroom, Kitchen, Outdoor, Bathroom, Hospitality, Office), Product Type (RTA, Non-RTA), Furniture Type (Chairs, Sofas, Tables, Beds, Cabinets, Others), Distribution Channel (Departmental Stores, Online Sales, Independent Furniture Retailers, Factory Outlets), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Luxury Furniture Market
Luxury furniture market will grow at a rate of 4.30% for the forecast period of 2021 to 2028. Luxury furniture market report analyses the growth, which is currently being growing due to rising disposable income in this region.
Furnitures refer to a number of functional areas such as sleeping, seating, home decoration, storage, work, and more. They can be used at homes along with public places such as restaurants and hotels. Luxury furniture are the type of furniture which are of elite quality and designs, and are crafted from high-quality wood, glass, metal among others. It has aesthetic value and is a symbol of status as well, and adds elegance and style to any establishments such as homes, hotels, offices among others.
Rapid urbanization in developing regions is a vital factor responsible for the upliftment of the market growth, also extensively rising growth in real estate sector over the years has created high demand for luxury furniture in both residential and commercial sectors all over the globe, rising consumer inclination towards purchasing luxury products that represent status symbol, rising availability of furniture on E-commerce websites, easy delivery options, and shopping through net-banking and other cashless payment options and continuous change in the life style and behaviour of consumer are some of the prime factors among others driving the luxury furniture market. Moreover, rising online retailing, rising development of multifunctional furniture and rising focus on product designs and development, and increasing technological innovations in furniture industry such as smart furniture which helps manage compact houses will further create new opportunities for luxury furniture market the in the forecast period mentioned above.
However, increased cost of raw materials and lack of skilled labors are the major factors among others which will obstruct the market growth, and will further challenge the growth of luxury furniture market in the forecast period mentioned above.
This luxury furniture market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on luxury furniture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Luxury Furniture Market Scope and Market Size
Luxury furniture market is segmented on the basis of material, end-use, product type, furniture type, and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of material, the luxury furniture market is segmented into wood, metal, glass, leather and plastic.
- Based on end-use, the luxury furniture market is segmented into living room, bedroom, kitchen, outdoor, bathroom, hospitality and office.
- Based on product type, the luxury furniture market is segmented into RTA and non-RTA.
- Based on furniture type, the luxury furniture market is segmented into chairs, sofas, tables, beds, cabinets and others.
- The luxury furniture market is also segmented on the basis of distribution channel into departmental stores, online sales, independent furniture retailers and factory outlets.
Luxury Furniture Market Country Level Analysis
Luxury furniture market is analysed and market size, volume information is provided by country, material, end-use, product type, furniture type, and distribution channel as referenced above.
The countries covered in the luxury furniture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the luxury furniture market due to rising inclination towards luxury furniture since many decades, high disposable income of consumers and rising technological breakthroughs in interior designs in this region. Asia-Pacific is the expected region in terms of growth in luxury furniture market due to rising growth of real estate and construction industries, rapid urbanization and improving lifestyles of individuals in this region.
The country section of the luxury furniture market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Luxury Furniture Market Share Analysis
Luxury furniture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to luxury furniture market.
The major players covered in the luxury furniture market report are MUEBLE DE ESPAÑA, GIOVANNI VISENTIN srl, Expand Furniture Inc, Flexsteel Industries, Inc., Meco Corporation, Haworth Inc., Ashley Home Stores Ltd., IKEA Systems B.V., Murphy Wall Beds Hardware Inc., Resource Furniture, The Bedder Way Co., La-Z-Boy Incorporated, Leggett & Platt Inc., Sauder Woodworking Co., Flexfurn Ltd, Gopak, Nilkamal, Hardware Inc., Twin Cities Closet Company, Duresta and Dorel Industries Inc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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